21
Retirement Benefit Surplus
Surplus of defined benefit pension scheme (net of deferred tax)
£'000
Surplus at 1 April 2014
Current service cost (employer)
Current service cost (employee)
Contributions (employer)
Contributions (employee)
Net finance income (restricted)
Actuarial loss (net)
Loss due to movement on asset limit (excluding restricted finance income)
Movement on deferred tax
12,167
(1,723)
(639)
4,556
639
2,197
(2,035)
(2,521)
(95)
Surplus at 31 March 2015
12,546
Further disclosures relating to the above surplus are provided in note 29.
22
Deferred Tax
Group
Company
2015
2014
2015
2014
£’000
£’000
£’000
£’000
Deferred tax liabilities/(assets) are provided as follows:
Accelerated capital allowances
Timing differences in respect of finance charges
Timing differences in respect of hedging reserves
Other timing differences
21,311
328
(1,640)
(340)
20,539
(3)
(1)
873
— —
(1,409)
(318) 10
(350) (326)
(361)
Undiscounted provision for deferred tax
Discount
19,659
(6,642)
19,653 (647)
(352)
(8,823)
— —
Discounted provision for deferred tax
13,017
10,830 (647)
(352)
The decrease in the discount of £2,181,000 represents the debit to profit and loss for the year. There is an unprovided deferred tax liability of
£3,408,000 (2014: £3,378,000) on capital gains rolled over into other assets of the Group. This will crystallise if the Group sells the assets into which the
gain has been rolled into. Deferred tax relating to the retirement benefit surplus (2014: surplus) is excluded from the above and included in the net
surplus (2014: surplus) stated in the consolidated balance sheet.
The deferred tax asset of the Company at 31 March 2015 of £647,000 (2014: £352,000) is presented within other debtors (note 17).
79